Nakheel is to highlight investment opportunities in the GCC's booming real estate sector at a seminar on "Current Climate for Real Estate Investment in the GCC" to be held at the Chamber of Commerce, Jeddah on 28 February 2005.
Wahid Attalla, Executive Director, Commercial and Operations, Nakheel will
speak at the seminar highlighting some of the key indicators of growth
in the real estate sector in the GCC, including the UAE, Saudi Arabia,
Bahrain and Qatar. The seminar is being organised by the Saudi representative office of Dubai Tourism & Commerce Marketing (DTCM) in association with Khadija Bint Khuwailid Centre for Support of Businesswomen, a part of the
Chamber of Commerce, Jeddah.
Commenting on the real estates sector in the GCC ahead of the seminar,
Attalla said, "Driven by initiatives from governments in the region, the
property sector in the GCC is set to become a core contributor to national
economies across the region. Several billions of dollars have been invested
by governments in real estate projects. The most significant aspect of
this is that governments are teaming up with private sector players, thus
infusing a new confidence in investors, and adding an international culture
of safe property investment in the region. This is a healthy sign, that
will have a positive impact on the property sector in the long-term."
At the seminar Attalla will provide examples of Dubai's success in attracting
investors to its several iconic projects and freehold properties. He will
also touch on positive signs like the declining mortgage rates and the
application of transparent international laws to sale and resale of property.
"Nakheel has had a headstart in this field and we would like to share our
experience with the other countries in the region through seminars like
these. Investors in Nakheel properties have seen the attractive return
on investment, in some cases as high as 40 per cent, in just a few months
after booking the property. We are sure this success story can be replicated
in other parts of the region," added Attalla.
"The Jeddah seminar will serve to highlight the changing trends in property
investment through the experiences of different players from the region.
Nakheel is pleased to be part of this event and demonstrate how vision
and determination can turn the real estate sector into a pillar of national
economy," he concluded.
Attalla will highlight Nakheel's partnerships aimed at attracting more
investment in the property sector, including the recent tie-up with MBI
International and Partners, a Saudi company, to form Nakheel Saudi Arabia,
to service the regional market for real estate investment.
Attalla will also present key features of Nakheel's landmark projects,
including the three Palms, The World, Jumeirah Islands, Jumeirah Lake Towers,
International City and Ibn Battuta Shopping Mall, along with other major
developments.
